Tax incentives and Made in Nigeria goods

Abstract

This work examines the relationship if any that exists between tax incentives, “Made in Nigeria” concept and Companies that engage in made in Nigeria goods. It will explore how tax incentives can accelerate the growth of companies engaged in manufacturing of such made in Nigeria goods. From this paper, written primarily to evaluate the relationship between the two within the context of made in Nigeria goods, it has been explained that tax incentives would enhance economic growth and development in Nigeria, if such incentives are well focused and available to only deserving companies and sectors. Indeed, it is generally perceived that incentives complicate the tax system due to the additional cost and time required to monitor the beneficiaries of such incentives in order to avoid possible abuse; and may not be beneficial to the economy especially where the tax forgone exceeds the anticipated benefits from granting the incentives.